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Call For Daniel Yergin To Centralized Net- Zero Goals | |
| Sumita Pawar |
According to the media, Daniel Yergin, an energy expert, was called on to make concerted efforts and set realistic goals to achieve success in the energy sector.
As the challenges on the road to the energy transition are increasing.
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The vice chairman of the American finance and insurance company S&P Global was speaking at a plenary session titled "Energy volatility, security, and access" at the 44th conference of the International Association for Energy Economics in Riyadh on Sunday.
Yergin identified the main challenges as energy security, the size and scale of the transition, net zero goals, and government intervention, which are highlighted in the report.
He was worried about the different times that different countries had set for getting to net zero.
Yergin said it was confusing to note that some countries have set to achieve their net-zero goal by 2050, but China’s goal is 2060, and India seeks to achieve it in 2070.
He also stressed the importance of government action to reach the net-zero goals and stop climate change.
"A good example of this is the British government’s windfall taxes on North Sea oil," he stressed.
The top official at S&P Global also emphasised the importance of increasing copper production to aid in the energy transition goal, but he expressed concern about different countries' respective capacities to increase production because "it takes a long time to open copper mines."
He said in addition to these challenges, there is a lot of uncertainty nowadays. Yergin said nobody expected the outbreak of COVID-19 or the Russia-Ukraine conflict. "It would be difficult to predict what lies ahead," he added.
According to Yergin, the IAEE was founded in 1977, which was a time of energy turbulence and energy uncertainty, and here they are in 2023, a new age of energy turbulence and energy uncertainty.
"The complexities of the energy transition call for deeper thinking and analysis."